New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-07-13
NO SOLUTION TO THE FAMOUS DEAL.
CONTRADICTION BY BOTH COMPANIES

MR. GOULD PROGRESSES IGNORANCE Mr. SAGE USES
r.. AN ILLUsTRAuoS-'fR. IVES SAYS NOTHING.
Wall Street watching carefully and perhaps esrh-
ssty praying yesterday for reasonable solution OF the
famous Baltimore and Ohio deal" 1t bad esme 10 De
accepted as fact that settlement OF the telegraph
difficulties at hand and that the Baltimore ana
Ohio telegraph lines were to become part and
parce, OF the Western Union system The ground for
this belief the fact that Robert Garrett president
Of the Baltimore aud Ohio Railroad some time ago gave
an option for the control Of tho company 10 Henry g.
IVES tie head Of tho stock exchange firm Of Henry
Ives 3 90.
Il gas understood that NJ Ives had paid to President
Garrett several hundred thousand dollars In cash
OF this privilege and in further compliance with
tho Of the contract hal pledged securities to the
amount of abcat 81 100000 with him go far as can
be ascertsned lit the expectation Of the Ives synd
cate that the Western Union Telegraph Company would
be ready buyer OF tho telegraph lines and that the pro-
cesds would supply tho FOR tho further
promotion OF the scheme The final disposition OF the
control of the railroad company was not made apparent
and seIe persons were 80 scepticA about the deal
regard merely indication of Mr. CARROTS
desire to retire from the telegraph business.
The Baltimore and Ohio Railroad owns the stock OF
the telegraph company and since the extension OF the
system there have been occasional signs that the
company not altogether satisfied with It's new vent
stated at over 100000 although represents the
entire charge for construction and maintenance OF Tie
lines slHce their establishment Nheu me rallIOad com
pany resolved " throw open the lines to commercial
business II began TO extend them and 10 become an
active rival to the older company. The Western Union
has constantly alleged that the experiment failure
while the Baltimore and Ohio has urged with equal con-
hdence that the earnings entirely satisfactory
The recent negotiations between the western Union
Company and the holders of Mr. Garrets privilege are
said TO have been broken OH Jay Gould SAID yesterday
to TRIBUNk reporter: =.
90 not think know anything about what You call
the Baltimore and Ohio deal Mr. Ives and his friends
have made overtures TO .bout the Baltimore ana
Ohio telegraph They have offered 70 sell 1t at price In
the neighborhoo6 OF 100000 This is too large, but
before entering upen negotiations for the purchase we
required Mr. Ives to show mis- authority 70 transfer
the property II could agree on price He mas not
been able to satisfy about this ana consequently
there negotiations find that most OF our direct
Ors are not Inclined TO buy opposition lines at price
"The change In sentiment about the policy OF the
COMPANY has been very great II Is thought that an
opposition not altogether bad thing especially when
this company has clearly demonstrated its ability
earn money ut the low rates. We were never doing
better than and In case the crisis has
been passed do not think shall lose anything by
waiting while before we buy out opposition lines
satisfied that we can get them whenever we please
Russell Sage said: The Western Union Y good deal
Hike o emerging from a cold bath. The chill OF a
powerful oppos!tlcn is ana the natural glow has
now set in"
Henry Ives declared that he had statement what
make in regard TO the present condition OK the
Baltimore and Ohio = deal"